Diginex Updates on Abu Dhabi Dual Listing, Potential Capital Raise, and GCC Expansion

Diginex, a provider of Sustainability RegTech solutions, has provided an update on its Memorandum of Understanding with Nomas Global Investments LLC to secure a dual-listing of its securities on the Abu Dhabi Securities Exchange. The process is ongoing but may take longer than expected, and the potential $250 million capital raise is expected to occur after the listing. The company's chairman, Miles Pelham, has agreed to rescind the acquisition of Diginex warrants by Nomas, but the latter remains an active supporter of Diginex.

Diginex Limited, a leading provider of Sustainability RegTech solutions, has announced that securing a dual-listing of its securities on the Abu Dhabi Securities Exchange (ADX) may take longer than initially expected. The company, based in London, has been working on a Memorandum of Understanding (MOU) with Nomas Global Investments LLC, a solely owned Special Purpose Vehicle (SPV) of His Highness Shaikh Mohammed Bin Sultan Bin Hamdan Al Nahyan of Abu Dhabi's Royal Family [1].

The MOU, signed on March 17, 2025, aimed to secure a dual-listing on the ADX, expand Diginex's business in the Gulf Cooperation Council (GCC), and facilitate a potential capital raise of up to $250 million. However, the company has now estimated that the process could take "a few more months if not longer" [2].

The delay in the ADX listing has implications for Diginex's planned $250 million capital raise, which is now contingent on the successful completion of the listing. This timeline shift introduces short-term uncertainty but reflects the complexity of navigating regulatory frameworks in the high-stakes market of the UAE [2].

In a separate transaction in May 2025, Nomas acquired Diginex warrants to acquire 6.75 million ordinary shares from Rhino Ventures Limited, an entity owned and controlled by Diginex's Chairman, Miles Pelham. However, the companies have mutually decided to rescind this acquisition, effective August 22, 2025. This decision has no impact on the MOU's intent, and Nomas remains an active supporter of Diginex [3].

Despite these challenges, Diginex's partnership with Nomas and the UAE Royal Family provides not only financial credibility but also geopolitical leverage in the GCC, where compliance with evolving ESG and climate reporting standards is becoming a non-negotiable for multinational corporations [2].

The GCC RegTech market, projected to grow from $189.6 million in 2024 to $480 million by 2035 (CAGR of 8.8%), presents a fertile ground for Diginex's AI-driven solutions. Diginex's diginexESG platform, which supports 19 global frameworks including GRI and TCFD, is uniquely positioned to meet this demand [2].

Diginex's recent strategic acquisitions, such as the $2 billion acquisition of Resulticks Group Companies Pte. Limited and the $13 million acquisition of Matter DK ApS, underscore its commitment to dominating the ESG analytics space. These moves enhance its AI-driven data orchestration capabilities and expand its sustainability data coverage, creating a flywheel effect as the company integrates advanced analytics into its compliance offerings [2].

While the ADX delay and warrant rescission introduce near-term volatility, investors should focus on Diginex's strategic moats: its royal-backed partnerships, AI-driven innovation, and alignment with GCC regulatory trends. The company's net asset position of $4.6 million (as of March 2025) and disciplined capital allocation demonstrate financial resilience [2].

For investors with a multi-year horizon, Diginex's position as a RegTech innovator in a rapidly growing market offers compelling upside, provided the ADX listing is executed successfully. The key takeaway is that Diginex's value lies not in its immediate execution but in its ability to adapt and capitalize on the GCC's ESG revolution [2].

References:
[1] https://www.marketwatch.com/story/diginex-expects-longer-timeline-to-secure-listing-on-abu-dhabi-exchange-8288621e
[2] https://www.ainvest.com/news/diginex-strategic-delays-adx-dual-listing-impact-capital-access-growth-2508/
[3] https://www.globenewswire.com/news-release/2025/08/22/3138011/0/en/diginex-provides-update-on-mou-for-adx-dual-listing-potential-capital-raise-and-regional-uae-and-gcc-expansion.html